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John Nash Hated Keynesians
Submitted by Jeff Berwick via The Dollar Vigilante blog,
John Forbes Nash Jr., the Princeton University mathematician who inspired the film “A Beautiful Mind,” died on May 23rd in a New Jersey car crash.
While we always look at things critically, and are aware that he had said he was just days away from releasing his discovery of a replacement for Einstein’s relativity theory, we’ll leave that private detective work for the millions of truth researchers on the internet.
While researching John Nash, however, we came across numerous anti-Keynesian comments by Nash that caught our eye here at the always anti-Keynesian Dollar Vigilante. Of course, as with most things, his anti-Keynesian stance wasn’t talked about very much and certainly not featured in the movie based on his life.
“Good money,” Nash once argued, is money that is expected to maintain its value over time. “Bad money” is expected to lose value over time, as under conditions of inflation.
This seems to be a consistent economic statement by the late, great mathematician. His economic understanding, and disdain of “Keynesians”, goes deeper. As he stated in this lecture:
The special commodity or medium that we call money has a long and interesting history. And since we are so dependent on our use of it and so much controlled and motivated by the wish to have more of it or not to lose what we have we may become irrational in thinking about it and fail to be able to reason about it like about a technology, such as radio, to be used more or less efficiently.
He goes on to analyze one school of thought’s views on money; namely, Keynesians:
So I wish to present the argument that various interests and groups, notably including “Keynesian” economists, have sold to the public a “quasi-doctrine” which teaches, in effect, that “less is more” or that (in other words) “bad money is better than good money”. Here we can remember the classic ancient economics saying called “Gresham’s law” which was “The bad money drives out the good”. The saying of Gresham’s is mostly of interest here because it illustrates the “old” or “classical” concept of “bad money” and this can be contrasted with more recent attitudes which have been very much influenced by the Keynesians and by the results of their influence on government policies since the 30s
He sees Keynesians as “manipulative.”
So let us define “Keynesian” to be descriptive of a “school of thought” that originated at the time of the devaluations of the pound and the dollar in the early 30’s of the 20th century. Then, more specifically, a “Keynesian” would favor the existence of a “manipulative” state establishment of central bank and treasury which would continuously seek to achieve “economic welfare” objectives with comparatively little regard for the long term reputation of the national currency and the associated effects of that on the reputation of financial enterprises domestic to the state.
He recognizes Keynesians need an ignorant citizenry or “customers of the currency supplied by the state”:
The Keynesians implicitly always have the argument that some good managers can do things of beneficial value, operating with the treasury and the central bank, and that it is not needed or appropriate for the citizenry or the “customers” of the currency supplied by the state to actually understand, while the managers are managing, what exactly they are doing and how it will affect the “pocketbook” circumstances of these customers.
Essentially, as we’ve concluded many times here at TDV Blog, the Keynesians are Communists:
I see this as analogous to how the “Bolshevik communists” were claiming to provide something much better than the “bourgeois democracy” that they could not deny existed in some other countries. But in the end the “dictatorship of the proletariat” seemed to become rather exposed as simply the dictatorship of the regime. So there may be an analogy to this as regards those called “the Keynesians” in that while they have claimed to be operating for high and noble objectives of general welfare what is clearly true is that they have made it easier for governments to “print money”.
Nash was in particularly distrustful of a world currency administered by the current global structures.
He foresaw in the future a sort of world currency being developed, and he had some worries about how one might evolve.
“In practice, I’m a little distrustful of the politicians at the level of the United Nations and elsewhere,” who would be in charge of administering a world currency.
So, Nash, one of the most influential mathematicians of our time, is not fooled by the money manipulators.
Further critiquing the ideology:
…while they have claimed to be operating for high and noble objective of general welfare what is clearly true is that they have made it easier for government to print money.
In conclusion:
And this parallel makes it seem not implausible that a process of political evolution might lead to the expectation on the part of the citizens in the great democracies that they should be better situated to be able to understand whatever will be the monetary polices which, indeed, are typically of great importance to citizens who may have alternative options for where to place their savings.
Some people believe Nash’s contributions to math, economics, and other disciplines helped pave the way for Bitcoin. Some think he is Satoshi Nakamoto, the creator of Bitcoin… which makes his death all the more suspicious.
While bad guys like Dick Cheney, Henry Kissinger, Zbigniew Brzezinski and David Rockefeller seem to never die it seems that more and more of the good guys, like John Nash tend to pass before their work was done or end up in prison for life, like Ross Ulbricht of the Silk Road.
R.I.P. John and Alicia Nash.
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He stated in one of his last interviews he was being "discourged" from publishing a paper with these views.
3:25 https://www.youtube.com/watch?v=ZrpauAq1bXA
I'll maintain Nash & wife were suicided.
Another John Nash lecture on "Ideal Money"
https://www.youtube.com/watch?v=Je22xKQekCk
Difficult having a 'beautiful mind' see right through your central planning crap.
Apparently the Taxi driver accidentally shot himself with a nail gun, resulting in the horrible crash.
Of course they were TPTB could not stand their beloved Onestone (aka Einstein) being 'wrong' -- as in "not quite right, not quite adequate to explain gravity at the quantum level". Did you read the part where the article says... Nash told fellow mathematician Cédric Villani he thought he'd found a replacement for Einstein's theory of relativity
"A colleague who had received an award with Nash in Norway earlier in the week said they had just flown home and the couple had taken a cab from the airport. But now it's been revealed that Nash was on the brink of making a ground-breaking discovery.
Villani told The Times: 'He explained it to me. He thought he had discovered a replacement for the equation.' He also said Nash claimed his replacement would help further explain quantum gravity."
Everybody with a decent physics degree know that Einstein's General Relativity breaks down at the Quantum Level. /Whadya expect from a formula whose complexity is limited to a mere constant squared (c2) and a variable (m), i.e. E=mc2. Ooh, move over Maxwell and your fancy formulas on EM theory. Had Maxwell been able to reduce his formulas to a simple E=hv, like Einstein did, he too might have had a Nobel Prize. /sarc
I would only add that it was an eaxy sell; as was the idea of perpetual life by the Catholic Church; people aren't too bright, and they like to get something for nothing. Oh, and that he's right, of course.
Keynes was a glorified carney barker...a flim flam man.
Rothschild agent.
Chartered to sell a ponzi scheme to the donkeys.
"Essentially, as we’ve concluded many times here at TDV Blog, the Keynesians are Communists"
I'm not sure that was nash's point. He was using a historical analog, not classifying keynsians specifically.
I would call keynsiians distinctively machiavellian. They run scams on the population, in effect lying and tricking them through currency movements and financial repression as a form of controlling behavior. This is not a distinctive trait of communism, IMO. It's a distinctive trait of lying schemers who have no sense of morality, and always place efficacy over principles.
You are wise.
Liberty is a demand. Tyranny is submission.
Yeah. You repeat that a lot.
What else ya got?
Borrowing from others here.
Keynes was a Fabian Socialist whose philosophy was inculcated with the notion that society needed to be managed for the better. All of these systems start from a point of thought of betterment of society but eventually drift toward Totalitarian control in order to maintain their flawed system. I would surmise that this is Nash's point and others when they call Keynes a Communists. It is the subsequent regressive step beyond Socialism and one that naturally grabs peoples attention.
http://www.zerohedge.com/news/2015-04-22/euthanasia-saver#comment-6022126
http://www.zerohedge.com/news/2015-04-26/negative-interest-rates-black-h...
"It's a distinctive trait of lying schemers who have no sense of morality, and always place efficacy over principles."
So pretty much the same as communism if you think about it.
Keynsians are Homos.
Austrians are trannies.
Game theory is exactly how it sounds. "Hypothetical"
It's really easy, after the fact, to define the situation.
Mr. nash obviously had some personal conflicts.
R.I.P.
All humans have personal conflicts.
Game theory is NOT hypothetical, because the game is ALWAYS in progress. If you don't have a theory, then you WILL lose.
I will never understand those who speak as if they were not genetically 99.999% the brothers of all other people, and in fact interrelated to 100% of all other people. Unless they feel that speaking thus somehow gives them a license to steal from "other" people, which isn't necessary in the first place, because 99.999% of all people on the planet have the ability to get everything they NEED without stealing anything from anybody. I believe that anyone who practices theft, though "justified" by whatever fascist/religious "belief", ends up understanding, inside, that he could be doing better with his life, and lives, inside, a life of self-disgust, fear, and anger, knowing that he has chosen to marry cowardice.
"If you don't have a theory, then you WILL lose."
Once everybody is dead, how do you define winning and losing?
Are you suggesting that anyone who dies never won? For example, did Andrew Jackson, since he is dead, not win the Battle of New Orleans?
Yen Cross, I usually completely ignore this "voting" stuff on ZH, but I am completely at loss why 11 "junked" you, so far. so +1
for "Game theory is exactly how it sounds. "Hypothetical""
and raise that with: and it's models. which approach and resemble reality, but "the map is not the territory"
we are talking about human behaviour, here. horribly complex
Few people or Mouth Pieces for Banks & Politicians talk about Wealth Extraction and Leakage. I mean Households Leak Wealth and Whole Economies Leak Wealth when the Borders are open, Wealth moves off shore, Capital Flight, and the Balance of Trade (Traditional Concept) is thrown aside for Free Trade concepts that don't demand equal worker rights and an auditing system.
US Workers are Apples and Free Trade is Oranges.
Banks no longer need you except your new Credit(So what if your earning power is lower than the credit increases of the last 30 years. Banks Don't need your Deposits.
- Low Velocity
- 12 years in a Credit Bubble, 17 years of stupid Financing
- Economic dependence on Housing, MIC, Government Projects, Fake Health Industry
- Households leaking Wealth on Health Care, Education, Big Mortgages, Interest Payments
- US Economy Leaking Money to Foreign Trade, Federal Spending Overseas, Foreign Ownership/Investments in the USA, Foreign Ownership of US Debt (Federal Debt), Decapitalization of US Industries, Wealth moving Off Shore
Well the might be a direct relationship between wealth extraction & Economic Leakage as our Dollars flight out of US Hands to the Hands of Foreigners or those operating off shore.
For instance I see new highs in 1984, 1986, 1989, 1994, 1997, 2001, 2006, 2011, 2012:
https://research.stlouisfed.org/fred2/series/GINIALLRH
Households and Nonprofit Organizations; Credit Market Instruments; Liability, Level
2014:Q4: 13,496.88 Billions of Dollars
http://research.stlouisfed.org/fred2/series/CMDEBT
Federal Debt Held by Foreign & International Investors as Percent of Gross Domestic Product, 2014:Q4: 34.75940 Percent of GDP,
http://research.stlouisfed.org/fred2/series/HBFIGDQ188S
Current Account Balance: Total Trade of Goods for the United States©, 2013: -703,911,000,000 US Dollars,
Sum Over Component Sub-periods (2013 was last data),
http://research.stlouisfed.org/fred2/series/BPBLTD01USA637S
http://www.bea.gov/newsreleases/international/intinv/iip_glance.htm (wow huge trend, $31 Trillion in Foreign Property in USA vs $24 Trillion)
Bank Private Credit to GDP for United States
2011: 55.47615 Percent (Data spans from 1961 to 2011, Bubble is clear in 2003)
http://research.stlouisfed.org/fred2/series/DDDI01USA156NWDB
Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for United States, 2011: 189.51640 Percent,
http://research.stlouisfed.org/fred2/series/DDDI12USA156NWDB
I guess Economist, Politicians, Bankers are TOO Embarrassed to talk about the real breadth of Economic Data...
They just don't want you to feel STUPID. They are saving your feelings.
If we could Fire Wall Street, K Street, Madison Avenue, US Congress, the President, and all Heads of DOJ, FBI, SEC, FINRA, FTC, GAO, CBO, FED, Treasury, OCC, FSOC, BCFP, CFTC, FDIC, FHFA, SIPC.
I notice US Economist never talk about Anti-Trust Legislation and how it is 'gamed'. Let's Fire a bunch of Lawyers and Economists.
We would. We would fire them.
Low velocity is ok as long as it's delivered in a 500-600 grain pill form.
Nash was a threat because he was smarter than they were. He was supposedly working on a paper that would blow Einstein out of the water when he died or was killed. Here ia a man in his 80s who was still making a contribution.
He was smeared before the movie came out as a possible anti-semite. He battle his mental demons much of his life, beat them, stayed married to same woman. America needs more John Nash's.
I have studied the theories of Einstein since I was a teenager--ADD can be a wonderful thing.
Einstein's theories predict certain phenomenon, but that is because the equations are essentially correct, however the interpretation of them are not.
This phenomenon is also seen in aerodynamics. In aerodynamics the Bernoulli equations suffice for explaining and designing heavier than air flying machines--planes. However, in actuality, the Bernoulli forces contribute little to generating lift. What is actually happening is a direct transference of energy to the surrounding air, and then the redirection of that air downward--a horizontal rocket, so to speak.
Now back to Einstein. His theories on gravity are based on a curvature of space, but don't really explain how such curvature in 3D space would not interfere and/or counteract each other--try finding a diagram of this curvature rendered in more than 2D space. Additionally, they do not explain other forces that act at a distance--the electromagnetic, weak, and strong forces. Are they too curvatures of space?! No.
So it is interesting that someone may have found a refinement of Einstein's theories/equations. I sure would like to see what he may have found.
Liberty is a demand. Tyranny is submission..
Gravity provides two-thirds to three-quarters of the energy needed to sustain heavier than air flight, with the engines providing the rest. I.e. a plane is falling more than it is flying.
Well, Einstein did get a Nobel Prize for E=hv -- the quantization of light. Wow, what a fantastically complex math equation!
And then he really outdid himself by going quadratic, with his E=mc2. Imagine if he'd gone cubic... I can hardly keep my head from exploding.
/"sarc @ speed of... thought"
p.s. How the fuck can a person "die" from a London cabbie, i.e. as in "getting thrown clear out of the car"? I call Bullshit! He was suicided, as was his wife -- lest she talked and told us where his papers on his latest work were kept or stolen. Now watch some beady fuck come out in a year or so, and claim Nash's work as his own.
For those interested, Keynes was a repugnant opportunist who sold his sole for wealth and power with his cover story for the banksters' grift, swindles, frauds, and thefts.
We know this because, like Greenspan, he wrote of being pro gold and laissez faire before becoming a tool to the Zionists and their banksters.
Liberty is a demand. Tyranny is submission..
"who sold his sole"? You mean he sold his shoes?!?
Why?
Oops. Funny though.
The one I usually mess up is, "their," "there," and "they're."
And if I were ever tyrant for a day, other than putting the guillotines to rapidly eliminating the banksters, I'd roll "effect" and "affect" into one word, say "effect," and be done with the confusion.
Liberty is a demand. Tyranny is submission..
THEY'RE shoeless, but THERE I see THEIR shoes. :0)
No , he caught a flatfish , and he sold it.
Nash was a nutjob. I appreciate the fact that he disliked Keynesians, but come on?
His passing was unfortunate... His thesis looks perfect on paper.
If your playing Chinese checkers with an opponent and you know that your opponent has has a vested interest in you winning, how do you define " game theory" in that scenario?
Game therory is based on the supposition that your opponent, whether aware or NOT, has the abilty to effect an outcome.
As an example; The Chinese will play game theory all day long, knowing full well that their debt/ gdp is 250%, because they have $3 Trillion in f/x reserves.
Every war, fight, situation, is won before it concludes.
Nash was a nutjob. I appreciate the fact that he disliked Keynesians, but come on?
Typical tactic to smear or insult someone you are trying to discredit.
You do understand that some people are born with different brains or chemical imbalnaces in their brains. I assume you would like to give these people lobotomies to cure them?
There are a lot of extremely intelligent and successful people who are wired slightly differently like people who have Aspergers which makes some people HIGHLY creative.
Like this guy (below) with Asparagers who is a doctor and highly successful investor at a very young age.
https://www.youtube.com/watch?v=1CLhqjOzoyE
Another nutjob? Pretty much saw that mortgage backs were shit but anyone with common sense would have gotten a pretty good idea.
You are either a Teenage Lobotomy or a a NWO/ZWO shill.
https://www.youtube.com/watch?v=6ssoBUb2cJk
No middle ground such as not lobotomize them and not pay them deferrence for theories. Anyone who read the article about GT yesterday could have explained the husband-vs-wife movie game for crying out loud. It is common sense there.
That doesn't make his views of Keynsianismisticalness righter or more wrong. It also doesn't give him moral authority over anyone else who understands the same.
Nash was a certified sociopath who was locked up for years when Margaret Thatcher use is theories to fuck the British people.
Jul 10, 2013 - ... English filmmaker Adam Curtis, well known for other documentaries . ... reference to the work of John Nash (the mathematician portrayed in A ...
Such a good text and you had to go there? Really? The guy tried to murder people, for god sakes.
They couldnt find a snowplow near the airport, and couldnt get him near a nailgun. So they pulled a princess Di
M O S A D ...3.2.1 Go.
The citizenry could care less. Look at all those who lost health coverage to Obamacare: sullen, resentful and fully compliant. How long before they elect a central banker as president?
I will never forget that they put Timothy Leary in prison. Afraid that spiritual consciousness might end their War profits?
Keynes was a fraud. A con man. A liar who just so happened to luck into circumstances which allowed his nutjob ideas to be widely adored by the sociopaths who happened to be in a position to dominate society at that time...And then it just went from bad to worse.
We (our species) are truly just experiencing death throes. This is what the (near) end times have been like..Over and over again.
Not to worry though...Once this death occurs (and it surely will)..Life will begin again.
What a fucking sad joke.
All these pathetic little wanna be 'important "folk's" just wasting time and making NOT ONE F'ING BIT OF DIFFERENCE to the genuine betterment of our 'species'.
Until 'humanity' shakes this 'government' thing....It will always end the same.
SPLAT!!!!
Government is to 2015 what the Catholic church was to 1560....(and I'm Catholic!)
By Choice.
That's Liberty
-:)
I've read that in the early Greek democracy , the politicians were not elected but drawn by ballot from the population. Having once been chosen to be in government for the required term , a citizen could not be balloted in to service again.
Such a system would eliminate the career politician (is there another sort today?) and sure would make crony capitalism difficult.
I hope someone published his work on money. They owe it to him.
It's called bitcoin.
Am I the only one on this board that sees the world as it really is?
The UK Crown and all their tax havens (collateral in the form of accounts which cannot leave or be moved easily without triggering a tax audit from the owners domicile) make up the World Monetary Base. In addition the Kings, Queens and Sheiks from Amsterdam to Riyaad to Morocco to Qatar--- are all in this together--- along with their money managers (Israel, Barclays, UBS, Goldman, JPMetc) So when Soros is trying to influence world politics a la Poroshenko, Shevernadze, etc-- he is doing so for the benefit of all these uber-wealthy types.
Keynes, Marx and Engels theories were most popular with the ultr-wealthy and Royals - because they could see a day when the landed gentry might not be able to hold onto their land.... But they could monetize it!
Excellent comments guys.
But Bitcoin wreaks like joo, so I'm sure Nash had nothing to do with it unless he was deceived.
Bitcoin code was written by a team of developers. One look at that code can tell that. It's origin, israel. They co-opted the work of Tatsuaki Okamoto.
Satoshi Nakamoto is a pseudonym of the NSA cryptologist Tatsuaki Okamoto who wrote about a dozen papers on digital crypto currencies from 1991 to 1995.
e.g.
1. Tony Eng and Tatsuaki Okamoto, Single-Term Divisible Electronic Coins, Advances in Cryptology EUROCRYPT '94, Springer-Verlag, pp. 311-323.
2. Tatsuaki Okamoto, An Efficient Divisible Electronic Cash Scheme, Advances in Cryptology - CRYPTO '95, Springer-Verlag, pp. 438-451.
3. Tatsuaki Okamoto and Kazuo Ohta, Universal Electronic Cash, Advances in Cryptology - CRYPTO '91, Springer-Verlag, pp. 324-337.
So what if it was written by joo big brother? Well they also mined >60% of all coinage when mining was easy. How else could they control the ramp to btc/usd $1000 back when the FBI wanted to unload.
FUCK YOU!
The banksters can't afford honest money. They've taken all the value out of the hands of the people, handicapped their future labor, and charge interest for the privileges thereof. They all need to die sudden and painful deaths. There is absolutely no reason on God's green earth that the issuance of real honest money cannot be done privately. Any reason put forth, however altruistic sounding, is just a smokescreen to cover the scam paving the road to hell.